SLANG Worldwide Announces Letter to Shareholders

SLANG Worldwide Announces Letter to Shareholders

Toronto, Ontario--(Newsfile Corp. - March 22, 2022) - SLANG Worldwide Inc. (CSE: SLNG) (OTCQB: SLGWF) ("SLANG" or the "Company"), a leading global cannabis consumer packaged goods ("CPG") company with a diversified portfolio of popular brands, today issued a Letter to Shareholders from its Interim CEO and Chairman of SLANG, Drew McManigle. Dear Shareholders, Since I was seated as Interim Executive Officer on November 15, 2021, the Company's management team, working closely with its financial advisor, MACCO Restructuring Group, LLC, has undertaken many forward-looking and effective initiatives. These initiatives have been aimed at improving our operational and financial efficiencies while right-sizing the Company to advance a more defined growth strategy. I am pleased to report today, that within four (4) months, these rigorous initiatives have reduced our operating expenses by approximately USD $2.1 million and strengthened our position to advance both our near and long-term growth plans. We are already seeing positive impacts in our monthly budget to actual cash flow. We have also completed and approved a 2022 annual budget for the Company. Before I dive into the details, I want our shareholders to know that all of our collective efforts have been to ensure that the Company can capitalize on future opportunities in the cannabis industry to drive shareholder value. And, importantly, I am personally optimistic about the Company's future direction now that we are strategically advancing upon our refined growth strategy. Listed below are several key accomplishments we have recently made in streamlining our operations to build stronger, sustainable revenue growth and profitable operations. Completed management restructuringBeginning in November 2021, we undertook a rapid and comprehensive review of all aspects of the Company, including, operations; finance; controls and procedures; markets; logistics; sales, marketing, products, and brands; and consumer satisfaction. We also undertook a review of the organizational structure and effectiveness of the Company's management team. We did all of this and more to reduce unmanageable overhead and conserve liquidity while working to drive growth in SLANG's core operating markets. In effect, we have strengthened the Company's position as a specialty focused, nimble and pragmatic organization. Implemented transformational strategic growth plan to focus on Vermont and ColoradoUnder our newly streamlined, strengthened and cohesive management team, we began to focus our efforts on growth in platform regions and emerging markets that display the strongest demand for our cannabis brands which, would in turn offer the opportunity to lead to greater sustainable and profitable revenue streams. In late November 2021, we began executing upon our strategy for transformational growth by tapering our operations to Vermont and Colorado (our Core Markets), while essentially eliminating any unprofitable components, including our Oregon operations. ColoradoWe continue to streamline operations, develop new products and branding, investigate opportunities for effective manufacturing out-sourcing and enhanced logistics, while consolidating our supply chain to create synergies and operating efficiencies to further strengthen our bottom-line. We have successfully reduced overseas freight costs. Most notably, we have sourced and contracted for distillate in Colorado at a significant reduction from the Company's prior year average cost of distillate, which can strongly enhance both revenue and margins. Additionally, we assessed and are exploring opportunities to divest several licenses in the State, as well as, our costly cultivation facility. VermontIn August 2021, the Company acquired High Fidelity/Ceres, Vermont's largest medical cannabis company, and Vermont quickly became a key facet of our Core Market strategy. With this acquisition, the Company has two of the five medical cannabis licenses granted in Vermont with four dispensaries, including one that is strategically located in the Burlington area, with the ability to add two new retail dispensaries upon receipt of the requisite licenses. In addition, with the advent of recreational cannabis use in Vermont later this year, the potential for material revenue growth, at healthy margins, can occur while we work to further increase overall enterprise value for SLANG.Concurrently, in November 2021, with our management review of the Company, we conducted a similar comprehensive review of High Fidelity's/Ceres' management, operations, and finance, as we began the integration of these assets into SLANG. New Jersey OpportunityFinally, in connection with a pre-existing agreement between High Fidelity and Woah Flow, Inc., who was provisionally awarded a medical cannabis license for Trenton, New Jersey in December 2021, the Company now possesses the rights to capitalize on a new business with potentially significant revenue opportunities. Completed share consolidationIn February 2022, we sought and gained shareholder approval, for a consolidation of our outstanding common shares (the "Common Shares") on the basis of one (1) share for every six (6) shares (the "Consolidation") to further support our efforts to improve shareholder value. The Consolidation was completed on February 28, 2022 and resulted in a total of approximately 70,409,448 Common Shares and 23,555,755 restricted voting shares being issued and outstanding. The Consolidation gives the enterprise a more manageable number of shares outstanding, while allowing for adequate daily trading volume. Deepened strategic partnership with Trulieve driving entry into new marketsAs previously disclosed, Trulieve Cannabis Corp. ("Trulieve"), in combination with two existing shareholders, Seventh Avenue and Pura Vida, entered a term-loan financing of $17.3 million USD in November 2021 supporting the Company's near and long-term transformation initiatives, as they related to the newly implemented strategic growth plan.In addition, the Company has partnered with Trulieve for entry into new and emerging markets such as Maryland, West Virginia, and other States. Conclusion In a very short amount of time, SLANG's management, and employees, working collaboratively, have formed a distinct focus on the Company's future success. We have made meaningful and significant progress transforming SLANG as we aim to capitalize on both current and future opportunities to generate stronger revenue growth, positive cash flow and profitability. We all would like to thank our shareholders for their continued support as we continue to position SLANG Worldwide as a leading CPG player in the cannabis industry. I look forward to speaking with you on our next earnings conference call in April. Sincerely, /s/ Drew McManigle Drew McManigleInterim Chief Executive Officer To be added to SLANG's email distribution list, please email SLNG@kcsa.com with "SLNG" in the subject. About SLANG Worldwide Inc. SLANG Worldwide Inc. is a global leader in the cannabis CPG sector with a diversified portfolio of popular brands distributed across the United States. SLANG specializes in acquiring and developing market-proven regional brands as well as launching innovative new brands to seize global market opportunities. For more information, please visit www.slangww.com. Forward-Looking Statements This news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements in this press release include, but are not limited to, statements in respect of the Company's ongoing efforts to improve operational and financial efficiencies, the potential divestiture of licenses in Colorado and the expansion of the Company's operations in Vermont and New Jersey. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management of SLANG at this time, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that could cause actual results to differ materially from those expressed or implied in such statements. Investors are cautioned not to put undue reliance on forward-looking statements. Applicable risks and uncertainties include, but are not limited to regulatory risks, risks related to the COVID-19 global pandemic, changes in laws, resolutions and guidelines, market risks, concentration risks, operating history, competition, the risks associated with international and foreign operations and the other risks identified under the headings "Risk Factors" in SLANG's annual information form dated April 29, 2021 and other disclosure documents available on the Company's profile on SEDAR at www.sedar.com. SLANG is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. Media and Investor inquiriesInvestors@SLANGww.com KCSA Strategic CommunicationsPhil Carlson SLANG@kcsa.com
Slang Worldwide Announce Share Consolidation Following Shareholder Vote

Slang Worldwide Announce Share Consolidation Following Shareholder Vote

Toronto, Ontario - February 28, 2022 - SLANG Worldwide Inc. (CSE: SLNG) (OTCQB: SLGWF) ("SLANG" or the "Company"), a leading global cannabis consumer packaged goods ("CPG") company with a diversified portfolio of popular brands, announced today that, following approval by its shareholders at the Company’s special shareholder meeting held on February 18, 2022, the Company has implemented a consolidation (the "Consolidation") of its outstanding common shares ("Common Shares") and its outstanding restricted voting shares ("Restricted Shares", and together with the Common Shares, the "Shares") on the basis of one new Share for every six currently outstanding Shares. The effective date of the Consolidation is February 28, 2022.   Immediately prior to the Consolidation, a total of 422,457,742 Common Shares and 141,758,367 Restricted Shares were issued and outstanding. Immediately following the Consolidation, a total of approximately 70,409,448 Common Shares and 23,555,755 Restricted Shares are issued and outstanding. No fractional Shares were issued. Any fractional interest in Shares resulting from the Consolidation were rounded down to the nearest whole Share. SLANG expects trading of the Common Shares on a post-consolidation basis on the Canadian Securities Exchange and OTCQB will commence on or around market open on March 3, 2022. The new CUSIP number for the post-consolidated Common Shares is 831006309.   Letters of transmittal will be mailed to registered shareholders of the Company ("Shareholders") and registered Shareholders will be required to deposit their share certificate(s) or DRS statement(s), together with a duly completed letter of transmittal, with  Odyssey Trust Company, the Company's registrar and transfer agent. Non-registered Shareholders holding Shares through an intermediary (a securities broker, dealer, bank or financial institution) should be aware that the intermediary may have different procedures for processing the Consolidation than those that will be put in place by the Company for registered Shareholders. If Shareholders hold their Shares through intermediaries and have questions in this regard, they are encouraged to contact their intermediaries.   Outstanding stock options and Share purchase warrants will also be adjusted by the Consolidation ratio and the respective exercise prices of outstanding options and share purchase warrants will be adjusted accordingly.   Drew McManigle, Interim CEO and Chairman of SLANG said, "The share consolidation is strategically aligned with our mission to improve shareholder value as we continue to build our product portfolio in key markets throughout the U.S.  With our forward-thinking management team now in place, we are aggressively advancing our growth strategy that focuses on building our leadership position in our core markets to achieve profitable revenue growth. Our ability to scale our operations and efficiently meet consumer demand will serve to drive our success and deliver attractive returns for our shareholders going forward.”   To be added to SLANG's email distribution list, please email SLNG@kcsa.com with "SLNG" in the subject.   About SLANG Worldwide Inc. SLANG Worldwide Inc. is a global leader in the cannabis CPG sector with a diversified portfolio of popular brands distributed across the United States. SLANG specializes in acquiring and developing market-proven regional brands as well as launching innovative new brands to seize global market opportunities. For more information, please visit www.slangww.com. Forward-Looking Statements This news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management of SLANG at this time, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that could cause actual results to differ materially from those expressed or implied in such statements. Investors are cautioned not to put undue reliance on forward-looking statements. Applicable risks and uncertainties include, but are not limited to regulatory risks, risks related to the COVID-19 global pandemic, changes in laws, resolutions and guidelines, market risks, concentration risks, operating history, competition, the risks associated with international and foreign operations and the other risks identified under the headings "Risk Factors" in SLANG's annual information form dated April 29, 2021 and other disclosure documents available on the Company's profile on SEDAR at www.sedar.com. SLANG is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. Media and Investor inquiries Investors@SLANGww.com KCSA Strategic Communications Phil Carlson SLANG@kcsa.com
SLANG Worldwide Announces Change to Board of Directors

SLANG Worldwide Announces Change to Board of Directors

Toronto, Ontario - (February 1, 2022) - SLANG Worldwide Inc. (CNSX: SLNG) (OTCQB: SLGWF) ("SLANG" or the "Company"), a leading global cannabis consumer packaged goods (“CPG”) company with a diversified portfolio of popular brands, announces that Mr. Matt Fraser has resigned from the Board of Directors effective immediately, to fulfil his other business interests. The Board and management of SLANG intend to commence a search to identify qualified candidates to fill the vacancy.   Mr. Drew McManigle, Interim CEO and Chairman stated, “On behalf of the Board and management, I would like to take this opportunity to express our gratitude to Matt for his insight, expertise and contribution to the Company, we wish him the best in his future endeavors.”   To be added to SLANG’s email distribution list, please email SLNG@kcsa.com with “SLNG” in the subject.   About SLANG Worldwide Inc. SLANG Worldwide Inc. is a global leader in the cannabis CPG sector with a diversified portfolio of popular brands distributed across the United States. SLANG specializes in acquiring and developing market-proven regional brands as well as launching innovative new brands to seize global market opportunities. For more information, please visit www.slangww.com.   Media and Investor inquiries Investors@SLANGww.com   KCSA Strategic Communications Phil Carlson SLANG@kcsa.com   Forward-Looking Statements This news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management of SLANG at this time, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that could cause actual results to differ materially from those expressed or implied in such statements. Investors are cautioned not to put undue reliance on forward-looking statements. Applicable risks and uncertainties include, but are not limited to regulatory risks, risks related to the COVID-19 global pandemic, changes in laws, resolutions and guidelines, market risks, concentration risks, operating history, competition, the risks associated with international and foreign operations and the other risks identified under the headings “Risk Factors” in SLANG’s annual information form dated April 29, 2021 and other disclosure documents available on the Company’s profile on SEDAR at www.sedar.com. SLANG is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.   Reader Advisory Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
SLANG Worldwide Announces Continued Efforts for Cash Conservation and Improved Operational Efficiencies

SLANG Worldwide Announces Continued Efforts for Cash Conservation and Improved Operational Efficiencies

Chief Revenue Officer position eliminated helping to further streamline operations as the Company aims to reduce capital expenditures, improve operational effectiveness and achieve profitability.   Toronto, Ontario - (January 7, 2022) - SLANG Worldwide Inc. (CNSX: SLNG) (OTCQB: SLGWF) ("SLANG" or the "Company"), a leading global cannabis consumer packaged goods (“CPG”) company with a diversified portfolio of popular brands, today announced it has eliminated the position of Chief Revenue Officer, effective as of January 14, 2022. The decision comes as a result of the steps taken to restructure the sales and marketing departments, as the Company furthers its efforts to improve operational efficiencies, drive future revenues, and reduce capital expenditures.   Drew McManigle, Interim CEO and Chairman said, “Since I joined in November, we have been reviewing the entire Company, with an aim to reposition SLANG as a highly effective, nimble organization. Following our internal review process, management has made the decision to restructure the sales and marketing departments, resulting in the elimination of the Chief Revenue Officer position. Through this restructuring, our main goal is to improve operational efficiencies, while positioning the Company for future revenue growth, and helping to drive shareholder value.” Mr. McManigle added, “We would like to thank Mr. Hilal Tabsh for his contributions while serving as Chief Revenue Officer and wish him the best in his future endeavors.”   Share Issuance   The Company also announces it has issued common shares for salary deferrals, agreed to in fiscal 2020 to conserve cash, to certain current and former executives: 377,825 common shares were issued to a former executive at a deemed price of $0.0920 per share; and 138,107 common shares were issued to current executives at a deemed price of $0.3258 per share. The shares are subject to hold periods expiring 4 months and 1 day from the date of issuance.   To be added to SLANG’s email distribution list, please email SLNG@kcsa.com with “SLNG” in the subject.   About SLANG Worldwide Inc. SLANG Worldwide Inc. is a global leader in the cannabis CPG sector with a diversified portfolio of popular brands distributed across the United States. SLANG specializes in acquiring and developing market-proven regional brands as well as launching innovative new brands to seize global market opportunities. For more information, please visit www.slangww.com.   Media and Investor inquiries Investors@SLANGww.com   KCSA Strategic Communications Phil Carlson SLANG@kcsa.com   Forward-Looking Statements This news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management of SLANG at this time, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that could cause actual results to differ materially from those expressed or implied in such statements. Investors are cautioned not to put undue reliance on forward-looking statements. Applicable risks and uncertainties include, but are not limited to regulatory risks, risks related to the COVID-19 global pandemic, changes in laws, resolutions and guidelines, market risks, concentration risks, operating history, competition, the risks associated with international and foreign operations and the other risks identified under the headings “Risk Factors” in SLANG’s annual information form dated April 29, 2021 and other disclosure documents available on the Company’s profile on SEDAR at www.sedar.com. SLANG is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.   Reader Advisory Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
SLANG Worldwide Announces Third Quarter 2021 Financial Results

SLANG Worldwide Announces Third Quarter 2021 Financial Results

Toronto, Ontario--(Newsfile Corp. - November 24, 2021) - SLANG Worldwide Inc. (CNSX: SLNG) (OTCQB: SLGWF) ("SLANG" or the "Company"), a leading global cannabis consumer packaged goods (CPG) company with a diversified portfolio of popular brands, today released financial results for the three and nine months ended September 30, 2021. All figures in this press release are stated in Canadian dollars unless otherwise noted. Third Quarter Highlights and Subsequent Events: Revenue for Q3 2021 was $10.1 million, compared with $7.9 million in Q3 2020. Upon the completion of the acquisition of High-Fidelity, Inc. ("Hi-Fi") in August 2021, the Company realized approximately $1.1 million in revenue during the third quarter of 2021; SLANG's brands continued to earn market-leading positions in its Core Markets of Colorado and Vermont in the third quarter of 2021. Highlights include: O.pen ranked as the #1 vape cartridge in Colorado; Firefly Mini was the #6 and O.pen was the #5 disposable vaporizer in Colorado; Bakked was the #6 dabbable distillate in Colorado; District Edibles was the #12 gummy in Colorado; Pressies was the #6 pill in Colorado (Source: BDSA.) Cash and cash equivalents of $3.5 million as of September 30, 2021 as compared to $9.7 million at June 30, 2021. September cash balance is inclusive of $5.0 million of transaction costs paid at closing of the HiFi acquisition; In October, SLANG announced it will enter the new markets of West Virginia and Pennsylvania through its strategic partnership with Trulieve Cannabis Corp. ("Trulieve"); In November, Trulieve, Pura Vida Investments ("Pura Vida") and Seventh Avenue Investments ("Seventh Avenue") and certain other investors provided a term-loan financing for aggregate gross proceeds of $17.3 million USD; In November, Drew McManigle was appointed Interim CEO and Chairman of the Board as part of an executive management transition to strategically reposition SLANG for profitable revenue growth. Drew McManigle, Interim CEO and Chairman of SLANG, said, "With the significant support from our respected strategic and investor partners, I look forward to utilizing my extensive experience in repositioning corporate operations to assist in the transformation of the SLANG operating platform. This transformation will be based on a refined strategy to appropriately position the Company to achieve future sustainable revenue growth." Mr. McManigle continued, "During the third quarter, SLANG deepened its strategic partnership with Trulieve, expanding product availability into new markets exclusively through Trulieve retail locations, and further securing opportunities for additional revenue over the long-term. In the short time I've been appointed to manage the strategic transition and transformation of SLANG, we've made substantial progress in evaluating the go-forward structure, effectively executing prudent measures beginning with consolidating core market operations and refining our product mix. We are confident in our rightsizing agenda to create a future path to profitability, and ultimately deliver attractive returns to our shareholders." Operational Highlights and Growth Drivers: Subsequent to quarter end, SLANG completed a term-loan financing (the "Loan Transaction") agreement with its strategic partner Trulieve, a leading and top-performing cannabis company based in the United States, two existing significant shareholders of the Company, Seventh Avenue and Pura Vida , and certain other investors for aggregate gross proceeds of $17.3 million USD. Under the terms and conditions of the Loan Transaction, the Company is required to allocate a minimum of 50% of the aggregate proceeds to complete the development and integration of the Vermont operations, a Core Market in SLANG's transformational strategic growth plan, ensuring the revamped operational capabilities result in future profitable growth. Further to building out the Vermont operations, the Company will shift its focus to efficiently refining the product mix according to the state's most popular consumer preferences, as well as creating significant efficiencies across the financial and operational cycle. As part of the financing support provided by the Company's well-respected partners, the Board of Directors appointed Drew McManigle as Interim CEO and Chairman of the Board, to lead the reorganization strategy and transformation of SLANG. The Loan Transaction represents a firm vote of confidence from each of these esteemed partners in the ability of the new leadership team to lead SLANG through successful execution and further development of its re-designed transformational growth strategy. This strategy will be structured to achieve the primary long-term objective to generate profitable revenue growth and create value for all of its stakeholders. The shift in SLANG's Core Markets strategy will represent a significant component of SLANG's transformational strategic growth plan. Under the newly appointed leadership a redirection in the Company's focus on regions within the current platform that display strong consumer demand for the profitable cannabis brands in the Company's product portfolio. As a result, the Company has determined its Core Markets going forward will be tapered to Colorado and Vermont, where a properly executed growth strategy has the potential to produce a sustainable and profitable revenue stream. The ongoing consolidation process of the supply chain in the Core Market of Colorado, where the Company currently recognizes wholesale revenue from sales of its leading brands directly from retail channels, will create synergies and operating efficiencies to contribute to go-forward revenue recognition. As part of this process, SLANG will work toward further consolidating its manufacturing and distribution segments, and divesting several licenses in the state, as well as its cultivation facility. Relative to the Core Market of Vermont, the Hi-Fi acquisition, in conjunction with the significant Loan Transaction led by industry leading strategic partners and noteworthy shareholders, represents a catalyst for considerable growth opportunities as the Company continues its effort to capitalize on an integrated SLANG platform while strictly pursuing highly profitable lines of revenue. In conjunction with the Core Markets adjustment, the Company has made a strategic pivot and will reduce its largely unprofitable Oregon operations. The Company plans to wind down manufacturing operations of all SLANG branded THC products from the newly re-positioned Emerging Market of Oregon, yet maintains its presence in the state through the commercialization of its popular CBD Gummies, while searching for a strategic partner to license its THC products in this market. Similarly to the adjustments made to our Core Markets strategy, in order to generate future significant revenue growth, SLANG will review its current footprint of Emerging Markets and only pursue geographies that are expected to provide meaningful and profitable lines of revenue. SLANG's new leadership team will carefully evaluate cannabis market data, consumer demand and unit economics in alternative geographies and take an opportunistic approach to those with attractive performance, in order to realize maximum long-term profitability. In assessing potential entry into new markets, the Company will focus on new and existing strategic partnerships for an asset-light approach producing greater operating efficiency. A critical factor in SLANG's Emerging Markets adjustment strategy is the notable strategic partnership with Trulieve, which continues to provide the Company with significant growth opportunities in several markets. In addition to SLANG's product and brands available in all Trulieve retail location in the state of Florida during the third quarter of 2021, the Company has announced its expansion to include Trulieve retail locations in Massachusetts in July 2021, as well as additional entrances to the Pennsylvania and West Virginia markets in Q2 2022 and Q3 2022, respectively. Another element in the strategic transformation of the Company includes the new management team's proven methods to realize profitability. As part of this methodology, management will re-evaluate SLANG's product mix and retain the solid products in leading brands which generate the greatest unit economics. During the re-evaluation process, the Company will undergo an in-depth assessment of the full revenue lifecycle of the current brand and product portfolio, including packaging, raw product costs, distribution and marketing spend. The resulting data will enable the Company to identify opportunities for efficiency in order to streamline or rebuild our product portfolio. The Company's goal remains to ultimately generate profitable revenue dollars and products that generate minimal economics to the Company will be removed. Key Performance Indicators1 The Company showed meaningful growth with 896,694 Branded Units sold in the third quarter of 2021, an increase of 50% compared to 597,397 Branded Units sold in Q3 2020; and 70.4 million Branded Servings were sold in Q3 2021, an increase of 23% compared to 57.6 million Branded Servings sold in Q3 2020. Q3 2021 Branded Units and Servings included notable sales from the Emerging Market of California, marking the Company's re-entry into the state through its Strategic Partner, Natura. Branded Units and Branded Servings related to the Core Market of Vermont and the Hi-Fi acquisition are also included in the figures reported for the quarter ended September 30, 2021. Brand Leadership SLANG's brands continued to earn market-leading positions in its Core Markets in the third quarter of 2021. Highlights include: O.pen ranked as the #1 vape cartridge in Colorado and #14 in Oregon; Firefly Mini was the #6 and O.pen was the #5 disposable vaporizer in Colorado; Bakked was the #6 dabbable distillate in Colorado; District Edibles was the #12 gummy in Colorado; and Lunchbox Alchemy was the #14 gummy in Oregon; Pressies was the #6 pill in Colorado (Source: BDSA.) During Q3 2021, SLANG's Gross Merchandise Value(1) ("GMV"), representing the total retail dollar value of SLANG branded products sold through all existing SLANG sales channels, whether directly by SLANG or by one of SLANG's strategic partners, totaled $39,014,679. SLANG's Q3 product and licensing revenue of $10,073,442, as reported in its Q3 2021 financial statements, represents 25.8% of GMV. GMV is calculated by multiplying SLANG's number of branded products sold in a period by the MSRP of those products sold. Furthermore, the total percentage of GMV captured by SLANG is an important metric in assessing brand performance as it determines SLANG's proportion of total retail revenue captured. The Company will continue to focus on GMV going forward and initiatives that will help increase SLANG's percentage of GMV. Management expects the acquisition of HI-FI and a continued focus on ecommerce channels will have a meaningful impact on SLANG's percentage of GMV in the remainder of 2021 and in 2022. HI-FI's four retail locations in Vermont and direct to consumer sales via ecommerce will allow SLANG to recognize 100% of GMV on products sold via those channels. Third Quarter 2021 Financial Review The consolidated financial statements were prepared in accordance with IFRS. The following is selected presentation of the Income Statement for the quarter end September 30, 2021 3 months ended30-Sep-21 3 months ended30-Sep-20 (In thousands except per share data and percentages) CDN CDN Net Operating Revenue $10,099 $7,902 Cost of Goods Sold 6,478 3,939 Gross Profit Before Gain on Fair Value of Biological Assets 3,620 3,963 Realized fair value amounts included in inventory sold (385) - Unrealized gain on fair value of biological assets (257) - Gross Profit 3,493 3,963 Gross Profit Margin 35% 50% Operating expenses 11,476 9,692 Operating Loss (7,983) (5,729) Other items (Impairment, FV adjustment, FX, gains/losses, taxes, etc.) (2,290) 218 Total Comprehensive Income / (Loss) (5,693) (5,947) Earnings Per Share     Basic ($0.01) ($0.02) Diluted ($0.01) ($0.02)   The Company reported $3.5 million of cash and cash equivalents at September 30, 2021, compared to $6.5 million at December 31, 2020, and $9.7 million at June 30, 2021.The decrease in cash and cash equivalents as of September 30 is primarily due to $5 million of transaction expenses related to the Hi-Fi acquisition. Non-IFRS Measures EBITDA, Adjusted EBITDA, Adjusted Gross Profit, Adjusted Gross Profit Margin, Gross Merchandise Value, Branded Unit volume and Branded Servings volume are non-IFRS financial measures that the Company uses to assess its operating performance. EBITDA is defined as net earnings (loss) before net finance costs, income tax expense (benefit) and depreciation and amortization expense. Management defines Adjusted EBITDA as EBITDA adjusted for other non-cash items such as the impact of unrealized fair values, share based compensation expense, impairments, one-time gains and losses, and one-time revenues and expenses. Management defines Adjusted Gross Profit and Adjusted Gross Margin as gross profit and gross margin adjusted for inventory fair value adjustments and fair value changes of biological assets. Gross Merchandise Value is defined as the total retail dollar value of SLANG branded products sold through all existing SLANG sales channels, whether directly by SLANG or by one of SLANG's strategic partners. See the heading "Key Performance Indicators" in the Company's management's discussion and analysis for the three months ended September 30, 2021 (the "Q3 2021 MD&A") for a description of how each of Branded Unit volume and Branded Servings volume is calculated. This data is furnished to provide additional information and are non-IFRS measures and do not have any standardized meaning prescribed by IFRS. The Company uses these non-IFRS measures to provide shareholders and others with supplemental measures of its operating performance. The Company also believes that securities analysts, investors and other interested parties, frequently use these non-IFRS measures in the evaluation of companies, many of which present similar metrics when reporting their results. As other companies may calculate these non-IFRS measures differently than the Company, these metrics may not be comparable to similarly titled measures reported by other companies. We caution readers that Adjusted EBITDA should not be substituted for determining net loss as an indicator of operating results, or as a substitute for cash flows from operating and investing activities. 3 months ended30-Sep-21 3 months ended30-Sep-20 (In thousands except per share data and percentages) CDN CDN Total Comprehensive Income (Loss) ($5,693) ($5,947) EBITDA (5,859) (4,111) Adjusted EBITDA (1,974) 57   See the Q3 2021 MD&A for a detailed reconciliation of EBITDA and Adjusted EBITDA to Operating Income / (Loss). SLANG's financial statements and the Q3 2021 MD&A are available on SEDAR at www.sedar.com, and on the Company's Investor Relations website at www.slangww.com. Conference Call Details Management plans to host an investor conference call today, November 24, 2021, at 10:00 am EST to discuss the results. Timing: Wednesday, November 24, 2021 at 10:00 am EST Dial-in: +1.888-440-5983 (US toll-free) or +1.646-960-0202 (US toll) or for a list of international toll-free options click here Conference ID: 6291438 Webcast: A live webcast can be accessed from the Investors section of Company's website at www.slangww.com or at this link. A replay of the webcast will be archived on the Company's website for one year.   Grant of Stock Options The Company also announces that it has granted stock options to acquire up to 1,230,000 common shares to certain employees, 250,000 of which were granted to a director of the Company. The stock options are exercisable at a price of $0.12 per common share until November 24, 2026. About SLANG Worldwide Inc. SLANG Worldwide Inc. is a global leader in the cannabis CPG sector with a diversified portfolio of popular brands distributed across the United States. The Company specializes in acquiring and developing market-proven regional brands as well as launching innovative new brands to seize global market opportunities. For more information, please visit www.slangww.com. To be added to SLANG's email distribution list, please email SLNG@kcsa.com with "SLNG" in the subject. Forward-Looking Statements This news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements included in this news release include, but are not limited to, statements in respect of the manufacture and distribution of SLANG branded products in our Core Markets and Emerging Markets and the anticipated use of proceeds from the Loan Transaction. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management of SLANG at this time, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that could cause actual results to differ materially from those expressed or implied in such statements. Investors are cautioned not to put undue reliance on forward-looking statements. Applicable risks and uncertainties include, but are not limited to regulatory risks, risks related to the COVID-19 global pandemic, changes in laws, resolutions and guidelines, market risks, concentration risks, operating history, competition, the risks associated with international and foreign operations and the other risks identified under the headings "Risk Factors" in SLANG's annual information form dated April 29, 2021 and other disclosure documents available on the Company's profile on SEDAR at www.sedar.com. SLANG is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. Third Party Information This press release includes market and industry data that has been obtained from third party sources, including industry publications. The Company believes that the industry data is accurate and that its estimates and assumptions are reasonable, but there is no assurance as to the accuracy or completeness of this data. Third party sources generally state that the information contained therein has been obtained from sources believed to be reliable, but there is no assurance as to the accuracy or completeness of included information. Although the data is believed to be reliable, the Company has not independently verified any of the data from third party sources referred to in this press release or ascertained the underlying economic assumptions relied upon by such sources. Media and Investor InquiriesInvestors@SLANGww.com KCSA Strategic CommunicationsPhil CarlsonSLANG@kcsa.com
SLANG Worldwide Announces $17.3 Million USD Financing from Trulieve Cannabis Corp., Pura Vida Investments, and Seventh Avenue Investments and Executive Leadership Transition
press release

SLANG Worldwide Announces $17.3 Million USD Financing from Trulieve Cannabis Corp., Pura Vida Investments, and Seventh Avenue Investments and Executive Leadership Transition

Toronto, Ontario--(Newsfile Corp. - November 16, 2021) - SLANG Worldwide Inc. (CNSX: SLNG) (OTCQB: SLGWF) ("SLANG" or the "Company"), a leading global cannabis consumer packaged goods (CPG) company with a diversified portfolio of popular brands, today announced a term-loan financing (the "Loan Transaction") with Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) ("Trulieve"), a leading and top-performing cannabis company based in the United States, and two existing significant shareholders of the Company, Pura Vida Investments ("Pura Vida") and Seventh Avenue Investments ("Seventh Avenue"), for aggregate proceeds of $17.3 million USD. At least 50% of the loan proceeds will be allocated to the development of operations in Vermont to achieve long-term profitability and further execute strategic growth objectives. In addition, the Company's board of directors (the "Board") has appointed Drew McManigle as interim Chief Executive Officer and Chairman of the Board, effective November 15th. Mr. McManigle succeeds Chris Driessen as Chief Executive Officer, upon his departure from the Company. Mr. McManigle also succeeds Peter Miller as Chairman of the Board and Mr. Miller remains a director of the Company. Drew McManigle's appointment as interim CEO and Chairman provides SLANG with proven leadership with experience across a variety of industries to strengthen SLANG's position as a specialty focused, nimble, pragmatic organization. This leadership transition, integrated with the overall strategic transformation, positions the Company to successfully capitalize and build upon its platforms in Colorado and Vermont to drive profitable growth, while taking a carefully crafted and prudent approach to evaluating and capturing additional future growth opportunities. "Our investment in SLANG underscores the success of our strategic partnership, as well as our commitment to providing the trusted and reliable brands our customers rely on," said Kim Rivers, CEO of Trulieve. "Since beginning our exclusive partnership in Florida, we have been able to bring SLANG to additional markets, expanded into wholesale, and now look forward to continued growth at scale and mutual success as we strive to provide our customers with the highest-quality products and unparalleled experience they can expect at Trulieve." "I'm excited about the opportunity to lead SLANG and further develop its established operating platform in the cannabis industry. My focus is on assuring SLANG is both operating efficiently and profitably capitalizing on new growth opportunities" said interim CEO and Chairman Drew McManigle. "Our top priority is the evolution of SLANG and its strategic positioning. The concurrent financing round represents a vote of confidence from a leading industry partner, Trulieve, and two of our largest shareholders, Pura Vida and Seventh Avenue." Mr. McManigle is the Founder and Chief Executive Officer of MACCO Restructuring Group, LLC ("MACCO"). He brings both wide-ranging experience, derived from a variety of industries, as well as a solutions-driven leadership style that has led to successful outcomes in numerous complex situations. As interim CEO and Chairman, Mr. McManigle will have oversight over key strategic, operational and financial functions. In addition to existing SLANG management, Mr. McManigle will also have the added support of members of MACCO who will provide senior level operating and financial expertise to enable rapid strategic reviews and business plan implementation. While at MACCO, Drew has held several leadership and fiduciary roles, including interim CEO and CRO. He has also served as an independent director. Prior to MACCO, Mr. McManigle was a principal of his own firm for 22 years. He had previously been employed by a Fortune 500 healthcare services company and had established the Houston office for a California-based advisory firm. He attended Texas Tech University and received his bachelor's degree from the University of Houston. The Company further announces that it has accepted the resignation of each of Chris Donnelly, Chris Driessen, Kelly Ehler, Keith Stein and Robert Verdun from the Board, effective immediately. The Company acknowledges each of the departing members of the Board for their support and contributions to the Company. To support the leadership transition, the Company has entered into an agreement with Mr. Driessen to provide transitional services to the Company in exchange for certain cash payments and the issuance of 600,480 Common Shares on the date hereof, as well as future share-based payments. Under the terms and conditions of the Loan Transaction, Trulieve, Pura Vida, Seventh Avenue, and other investors (collectively, the "Lenders") will provide SLANG a loan of $17.3 million USD (the "Initial Loan Amount"), which is subject to an original issue discount of 3% and will have a three-year term and a PIK interest rate of 9.75%, compounded quarterly, with the entire outstanding balance, including interest, becoming due and payable on third anniversary of the Loan Transaction (the "Maturity Date"). Additionally, SLANG will pay the Lenders an aggregate total amount equal to $3.6 million USD (together with the Initial Loan Amount, the "Loan Amount") on the earlier of: (i) the Maturity Date; and (ii) any date of prepayment of the Initial Loan Amount. In addition, the Company has granted the Lenders an option to, at any time on or prior to the Maturity Date, convert any portion of the Loan Amount, including the earned interest thereon, into common shares of the Company ("Common Shares") at a price per Common Share equal to $0.1273 USD. The Loan Amount is secured by a first secured ranking on the assets of SLANG, guaranteed on a senior secured basis by certain of SLANG's subsidiaries. The proceeds of the Loan Transaction will be used for both working capital and to fund the development of SLANG's Vermont operations. In addition, the Company has decided to reduce its Oregon operations and will consolidate production to its Colorado facility. Therefore, in the near term, the Company is pivoting its strategic agenda and focusing on its core markets of Colorado and Vermont. Mr. McManigle will lead the Company to success by leveraging SLANG's core platform to drive near term profitability and tactfully guide the Company's long-term strategy in connection with his appointment. To be added to SLANG's email distribution list, please email SLNG@kcsa.com with "SLNG" in the subject. Related Party Transaction Disclosure The participation of Seventh Avenue and Pura Vida in the Loan Transaction constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the Loan Transaction as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the Loan Transaction, insofar as it involved the related parties (being Seventh Avenue and Pura Vida), exceeded 25% of the Company's market capitalization (as determined under MI 61-101). Further details will be included in a material change report to be filed by the Company. The material change report will not be filed more than 21 days prior to closing of the Loan Transaction due to the timing of the announcement of the Loan Transaction and the anticipated closing thereof occurring in less than 21 days. About SLANG Worldwide Inc. SLANG Worldwide Inc. is a global leader in the cannabis CPG sector with a diversified portfolio of popular brands distributed across the United States. SLANG specializes in acquiring and developing market-proven regional brands as well as launching innovative new brands to seize global market opportunities. For more information, please visit www.slangww.com. About MACCO Restructuring Group MACCO Restructuring Group, LLC (www.macco.group) is a middle-market focused interim leadership and financial advisory practice with 17 highly experienced and talented professionals. Based in Houston, MACCO has offices in Las Vegas, Denver, Oklahoma City, Wilmington, DE, and New York City. MACCO's professionals possess real world business experience and have led and managed companies, acted as CEOs, CROs, CFOs, as senior lenders or in fiduciary roles such as operating chapter 11 trustee, assignee, and receiver. About Trulieve Trulieve is an industry leading, vertically integrated cannabis company and multi-state operator in the U.S. operating in 11 states, with leading market positions in Arizona, Florida, and Pennsylvania. Trulieve is poised for accelerated growth and expansion, building scale in retail and distribution in new and existing markets through its hub strategy. By providing innovative, high-quality products across its brand portfolio, Trulieve delivers optimal customer experiences and increases access to cannabis, helping patients and customers to live without limits. Trulieve is listed on the CSE under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF. Learn more at: www.trulieve.com/ Forward-Looking Statements This news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements in this news release include, but are not limited to, statements regarding the terms of the financing agreement, the use of net proceeds from the Initial Loan Amount, the Company's ability successfully capitalize and build upon its platforms in Colorado and Vermont to drive profitable growth, the Company's ability to capitalize on its existing platform to pursue future opportunities, expectations regarding profitability of the Company and expectations relating to the Company's partnership with Trulieve. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management of SLANG at this time, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that could cause actual results to differ materially from those expressed or implied in such statements. Investors are cautioned not to put undue reliance on forward-looking statements. Applicable risks and uncertainties include, but are not limited to regulatory risks, risks related to the COVID-19 global pandemic, changes in laws, resolutions and guidelines, market risks, concentration risks, operating history, competition, the risks associated with international and foreign operations and the other risks identified under the headings "Risk Factors" in SLANG's annual information form dated April 29, 2021 and other disclosure documents available on the Company's profile on SEDAR at www.sedar.com. SLANG is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. Third Party Information This press release includes market and industry data that has been obtained from third party sources, including industry publications. The Company believes that the industry data is accurate and that its estimates and assumptions are reasonable, but there is no assurance as to the accuracy or completeness of this data. Third party sources generally state that the information contained therein has been obtained from sources believed to be reliable, but there is no assurance as to the accuracy or completeness of included information. Although the data is believed to be reliable, the Company has not independently verified any of the data from third party sources referred to in this press release or ascertained the underlying economic assumptions relied upon by such sources. Media and Investor inquiriesInvestors@SLANGww.com KCSA Strategic CommunicationsPhil Carlson / Rory RumoreSLANG@kcsa.com
SLANG Announces Issuance of Shares Pursuant to Rights Agreement
press release

SLANG Announces Issuance of Shares Pursuant to Rights Agreement

Toronto, Ontario--(Newsfile Corp. - November 5, 2021) - SLANG Worldwide Inc. (CSE: SLNG) (OTCQB: SLGWF) ("SLANG" or the "Company"), a leading global cannabis consumer packaged goods ("CPG") company with a diversified portfolio of popular brands, has issued 9,260,809 common shares, at a deemed price of CAD$0.17362 per common share, as compensation for a product licensing rights agreement. The common shares have a value of USD$1,300,000 and are subject to a hold period expiring March 3, 2022. To be added to SLANG's email distribution list, please email SLNG@kcsa.com with "SLNG" in the subject. About SLANG Worldwide Inc.SLANG Worldwide Inc. is a global leader in the cannabis CPG sector with a diversified portfolio of popular brands distributed across the United States. SLANG specializes in acquiring and developing market-proven regional brands as well as launching innovative new brands to seize global market opportunities. For more information, please visit www.slangww.com. Forward-Looking StatementsThis news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management of SLANG at this time, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that could cause actual results to differ materially from those expressed or implied in such statements. Investors are cautioned not to put undue reliance on forward-looking statements. Applicable risks and uncertainties include, but are not limited to regulatory risks, risks related to the COVID-19 global pandemic, changes in laws, resolutions and guidelines, market risks, concentration risks, operating history, competition, the risks associated with international and foreign operations and the other risks identified under the headings "Risk Factors" in SLANG's annual information form dated April 29, 2021 and other disclosure documents available on the Company's profile on SEDAR at www.sedar.com. SLANG is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. Media and Investor inquiriesInvestors@SLANGww.com KCSA Strategic CommunicationsPhil Carlson / Rory RumoreSLANG@kcsa.com
SLANG Worldwide Enters West Virginia and Pennsylvania Markets Through Strategic Partnership with Trulieve Cannabis Corp.

SLANG Worldwide Enters West Virginia and Pennsylvania Markets Through Strategic Partnership with Trulieve Cannabis Corp.

Toronto, Ontario--(Newsfile Corp. - September 30, 2021) - SLANG Worldwide Inc. (CNSX: SLNG) (OTCQB: SLGWF) ("SLANG" or the "Company"), a leading global cannabis consumer packaged goods (CPG) company with a diversified portfolio of popular brands, today announced its entry into the West Virginia and Pennsylvania markets via a strategic partnership with Trulieve Cannabis Corp. ("Trulieve"), a leading and top-performing cannabis company based in the United States. With the addition of these two states, SLANG's products will soon be available in 15 states, Canada, and Puerto Rico. Under the agreement, Trulieve will have exclusive access to the entire SLANG portfolio of brands. Additionally, SLANG will sell packaging to Trulieve, and will receive royalties on product sales at their locations in both states, as well as on wholesale revenues to third-party dispensaries. Product launches in both states are expected in 2022. Chris Driessen, CEO of SLANG, said, "We are thrilled to announce two more strategic partnerships with Trulieve in Pennsylvania and West Virginia. We look forward to working with Trulieve and building on our existing successful partnerships in Florida and Massachusetts." Pennsylvania, the fifth-most-populated state in the country, has a robust medical marijuana market and Governor Wolf included adult use marijuana on his legislative agenda as announced in January 2021.1 The state has seen immense success with its medical marijuana market, which is expected to reach 1 billion dollars in sales by 2023, according to one report. "Trulieve and SLANG have enjoyed a successful partnership in Florida and as we expand nationally, we are excited to bring SLANG products into select new states," commented Valda Coryat, Chief Marketing Officer of Trulieve. "We recently announced the launch of SLANG in Massachusetts and now we will add two more states within our northeast hub where patients will find SLANG products on Trulieve's shelves and available in dispensaries throughout those states as we build upon our wholesale distribution model." West Virginia currently has a medical marijuana program and as of June 30, 2021, the state has 2,305 patients enrolled. Additionally, the state's Governor Jim Justice recently revealed that he is open to the possibility of adult-use cannabis legalization in the state. [2]2 Trulieve has made several advances in the state and is expected to be the largest dispensary owner and producer in West Virginia. In July 2021, Trulieve began cultivation at their 100,000 square foot facility in Huntington, West Virginia. Driessen continued, "With Trulieve's best-in-class infrastructure, operational excellence and SLANG's portfolio of brands, these partnerships are expected to be successful in two emerging markets that have tremendous upside, especially when you consider the potential regulatory changes in both markets." To be added to SLANG's email distribution list, please email SLNG@kcsa.com with "SLNG" in the subject. About SLANG Worldwide Inc.SLANG Worldwide Inc. is a global leader in the cannabis CPG sector with a diversified portfolio of popular brands distributed across the United States. SLANG specializes in acquiring and developing market-proven regional brands as well as launching innovative new brands to seize global market opportunities. For more information, please visit www.slangww.com. About TrulieveTrulieve is primarily a vertically integrated "seed-to-sale" company in the U.S. and is the first and largest fully licensed medical cannabis company in the State of Florida. Trulieve cultivates and produces all of its products in-house and distributes those products to Trulieve-branded stores (dispensaries) throughout the State of Florida, as well as directly to patients via home delivery. Trulieve also has operations in California, Massachusetts, Connecticut and Pennsylvania. Trulieve is listed on the Canadian Securities Exchange under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF.To learn more about Trulieve, visit www.Trulieve.com. Forward-Looking StatementsThis news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements in this news release include, but are not limited to, statements regarding the terms of the partnership with Trulieve, the launch of SLANG's brands in Pennsylvania and West Virginia in 2022, potential regulatory changes in both Pennsylvania and West Virginia and expected success of SLANG's brands in both such states. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management of SLANG at this time, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that could cause actual results to differ materially from those expressed or implied in such statements. Investors are cautioned not to put undue reliance on forward-looking statements. Applicable risks and uncertainties include, but are not limited to regulatory risks, risks related to the COVID-19 global pandemic, changes in laws, resolutions and guidelines, market risks, concentration risks, operating history, competition, the risks associated with international and foreign operations and the other risks identified under the headings "Risk Factors" in SLANG's annual information form dated April 29, 2021 and other disclosure documents available on the Company's profile on SEDAR at www.sedar.com. SLANG is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. Third Party InformationThis press release includes market and industry data that has been obtained from third party sources, including industry publications. The Company believes that the industry data is accurate and that its estimates and assumptions are reasonable, but there is no assurance as to the accuracy or completeness of this data. Third party sources generally state that the information contained therein has been obtained from sources believed to be reliable, but there is no assurance as to the accuracy or completeness of included information. Although the data is believed to be reliable, the Company has not independently verified any of the data from third party sources referred to in this press release or ascertained the underlying economic assumptions relied upon by such sources. Media and Investor inquiriesInvestors@SLANGww.comKCSA Strategic CommunicationsPhil Carlson / Elizabeth BarkerSLANG@kcsa.com [1] https://local21news.com/news/local/gov-wolf-to-outline-agenda-for-2021-discuss-covid-19-relief-efforts[2]2 https://www.mpp.org/states/west-virginia/
SLANG Worldwide Enters Massachusetts Through Strategic Partnership with Trulieve

SLANG Worldwide Enters Massachusetts Through Strategic Partnership with Trulieve

Toronto, Ontario--(Newsfile Corp. - September 7, 2021) - SLANG Worldwide Inc. (CSE: SLNG) (OTCQB: SLGWF) ("SLANG" or the "Company"), a leading global cannabis consumer packaged goods (CPG) company with a diversified portfolio of popular brands, announced today that its best-selling, premium vape product line, O.pen Daily Strains and Live Resin, as well as popular edibles brand District Edibles, will be available in Massachusetts, exclusively with Trulieve Cannabis Corp. ("Trulieve"), a leading and top-performing cannabis company based in the United States. Chris Driessen, CEO of SLANG said, "Massachusetts is the first eastern U.S. state to legalize both medical and adult-use cannabis and we are proud to enter this market in partnership with Trulieve. We value their industry leadership and our existing relationship in Florida, which we look forward to continuing in the Massachusetts market. This market will also increase our total points of distribution, Gross Merchandise Value and drive continued brand performance on the east coast." SLANG has a strategic partnership with Trulieve Cannabis Corp. ("Trulieve") to supply branded products to this market. SLANG will also provide sales consulting services and will receive royalty payments for each branded product sold in the state. This is the second market in which SLANG and Trulieve will partner, building on the success that both companies have enjoyed in the Florida market. Massachusetts will mark the first time that both companies will partner on wholesale initiatives, which is a SLANG core competency. Initial product offerings in Massachusetts include O.pen Daily Strains, a selection of popular strains designed to offer consistent and repeatable effects with elevated THC potencies, which are now available in Trulieve's Northampton and Worcester, MA locations. It will be followed by District Edibles, which offers cannabis-infused sweet and sour gummies that are individually sealed and in a convenient, no melt container. Priced as one of the more affordable options on the market, sweet flavors include Cherry Cola, Tropical Punch, Strawberry, Orange, Blue Raspberry, and Watermelon and sour flavors include Apple, Lime, and Peach. "We are thrilled to expand upon our successful partnership with SLANG as we grow in Massachusetts," said Kim Rivers, CEO of Trulieve. "As the exclusive source of SLANG's nationally recognized, trusted and beloved brands, Trulieve continues to deliver on our promise to Massachusetts cannabis consumers, providing a wide variety of the highest-quality products available in the market today." To be added to SLANG's email distribution list, please email SLNG@kcsa.com with "SLNG" in the subject. About SLANG Worldwide Inc.SLANG Worldwide Inc. is a global leader in the cannabis CPG sector with a diversified portfolio of popular brands distributed across the United States. The Company specializes in acquiring and developing market-proven regional brands as well as launching innovative new brands to seize global market opportunities. For more information, please visit www.slangww.com. Forward-Looking StatementsThis news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements included in this news release include, but are not limited to, statements in respect of the Company's expected performance in Q1 2021, the distribution of the Company's branded products in emerging markets, the proposed acquisition of ACG and ongoing consolidation of its supply chain in core markets and the impact thereof. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management of SLANG at this time, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that could cause actual results to differ materially from those expressed or implied in such statements. Investors are cautioned not to put undue reliance on forward-looking statements. Applicable risks and uncertainties include, but are not limited to regulatory risks, risks related to the COVID-19 global pandemic, changes in laws, resolutions and guidelines, market risks, concentration risks, operating history, competition, the risks associated with international and foreign operations and the other risks identified under the headings "Risk Factors" in SLANG's annual information form dated April 13, 2021and "Risks and Uncertainties" in the 2020 MD&A and other disclosure document available on the Company's profile on SEDAR at www.sedar.com. SLANG is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. Media and Investor inquiriesInvestors@SLANGww.comKCSA Strategic CommunicationsPhil Carlson / Elizabeth BarkerSLANG@kcsa.com [1] Research by BDS Analytics